Murata on the acquisition trail
Murata is still on the acquisition trail, Terry Churcher, President of Murata for Europe, Middle East and Africa, tells EW.
Murata has made a string of acquisitions recently – VTI Technologies in 2011, Renesas’ high-power amplifier business earlier this year and, more recently RF Monolithics.
Asked by EW if the company was still interested in acquisitions, Churcher replies: “Yes. Murata is interested in acquiring materials technology and nanotechnology.”
Two years back, Murata had $4bn cash and it still has over $3bn. “In my personal opinion one of the reasons we set off on the acquisition trail was probably pressure from the shareholders to use the cash,” says Churcher.
So an expansive Murata is looking for complementary technologies, for instance in the carbon field, and Churcher is scouring Europe for acquisition opportunities.
One promising opportunity for acquirers is the shedding of engineers at some of Europe’s big comms companies generating engineers flush with redundancy cash looking to set up new businesses.